UBS will slow down hiring & deepen cost cuts by about $300M as it confronts one of the worst 1st-quarter environments in recent history, UBS Group CEO Sergio Ermotti told investors at a conference in London on Wed.

MGP would make a nice interface to Envestnet's insurance exchange that is scheduled to launch this summer. They could add the ability to directly purchase insurance that is modeled using MGP tools. ENV takes a piece of every transaction.